$GNTX
GENTEX CORP

2015 Q2 Form 10-Q Financial Statement

#000035581115000045 Filed on August 05, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $379.3M $338.4M
YoY Change 12.06% 17.93%
Cost Of Revenue $233.7M $204.1M
YoY Change 14.48% 10.73%
Gross Profit $145.5M $134.3M
YoY Change 8.38% 30.87%
Gross Profit Margin 38.38% 39.68%
Selling, General & Admin $15.10M $14.22M
YoY Change 6.14% 17.04%
% of Gross Profit 10.37% 10.59%
Research & Development $22.32M $20.23M
YoY Change 10.29% 7.26%
% of Gross Profit 15.33% 15.07%
Depreciation & Amortization $21.20M $19.80M
YoY Change 7.07% 43.48%
% of Gross Profit 14.57% 14.74%
Operating Expenses $37.41M $34.46M
YoY Change 8.57% 11.09%
Operating Profit $108.1M $99.84M
YoY Change 8.31% 39.44%
Interest Expense $0.00 -$500.0K
YoY Change -100.0% -183.33%
% of Operating Profit 0.0% -0.5%
Other Income/Expense, Net $2.317M $5.787M
YoY Change -59.95% 4.59%
Pretax Income $110.5M $105.6M
YoY Change 4.57% 36.94%
Income Tax $35.89M $28.90M
% Of Pretax Income 32.5% 27.36%
Net Earnings $74.56M $76.73M
YoY Change -2.83% 47.28%
Net Earnings / Revenue 19.66% 22.67%
Basic Earnings Per Share $0.25 $0.27
Diluted Earnings Per Share $0.25 $0.26
COMMON SHARES
Basic Shares Outstanding 294.0M shares 290.4M shares
Diluted Shares Outstanding 297.5M shares 293.0M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $569.9M $391.7M
YoY Change 45.49% -34.19%
Cash & Equivalents $569.9M $391.7M
Short-Term Investments
Other Short-Term Assets $38.50M $38.60M
YoY Change -0.26% 60.83%
Inventory $150.8M $125.2M
Prepaid Expenses
Receivables $196.1M $178.3M
Other Receivables $0.00 $0.00
Total Short-Term Assets $955.2M $733.7M
YoY Change 30.19% -14.23%
LONG-TERM ASSETS
Property, Plant & Equipment $375.3M $358.3M
YoY Change 4.75% 3.58%
Goodwill $307.4M $307.4M
YoY Change 0.0%
Intangibles $337.2M $356.5M
YoY Change -5.41% 1178.06%
Long-Term Investments $114.7M $109.8M
YoY Change 4.46% -19.85%
Other Assets $782.0M $798.0M
YoY Change -2.01% 384.01%
Total Long-Term Assets $1.157B $1.156B
YoY Change 0.09% 126.37%
TOTAL ASSETS
Total Short-Term Assets $955.2M $733.7M
Total Long-Term Assets $1.157B $1.156B
Total Assets $2.113B $1.890B
YoY Change 11.77% 38.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $69.94M $55.82M
YoY Change 25.29% 27.47%
Accrued Expenses $85.37M $72.99M
YoY Change 16.96% 21.46%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $155.3M $128.8M
YoY Change 20.57% 24.0%
LONG-TERM LIABILITIES
Long-Term Debt $254.4M $261.9M
YoY Change -2.86%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $254.4M $261.9M
YoY Change -2.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $155.3M $128.8M
Total Long-Term Liabilities $254.4M $261.9M
Total Liabilities $465.5M $442.3M
YoY Change 5.25% 177.65%
SHAREHOLDERS EQUITY
Retained Earnings $1.047B $919.5M
YoY Change 13.82% 25.4%
Common Stock $593.3M $510.7M
YoY Change 16.17% 12.75%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.647B $1.448B
YoY Change
Total Liabilities & Shareholders Equity $2.113B $1.890B
YoY Change 11.77% 38.33%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $74.56M $76.73M
YoY Change -2.83% 47.28%
Depreciation, Depletion And Amortization $21.20M $19.80M
YoY Change 7.07% 43.48%
Cash From Operating Activities $83.90M $44.40M
YoY Change 88.96% -40.72%
INVESTING ACTIVITIES
Capital Expenditures -$18.40M -$14.20M
YoY Change 29.58% 26.79%
Acquisitions
YoY Change
Other Investing Activities -$300.0K $3.100M
YoY Change -109.68% -48.33%
Cash From Investing Activities -$18.70M -$11.20M
YoY Change 66.96% 115.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -45.30M -16.30M
YoY Change 177.91% 71.58%
NET CHANGE
Cash From Operating Activities 83.90M 44.40M
Cash From Investing Activities -18.70M -11.20M
Cash From Financing Activities -45.30M -16.30M
Net Change In Cash 19.90M 16.90M
YoY Change 17.75% -71.93%
FREE CASH FLOW
Cash From Operating Activities $83.90M $44.40M
Capital Expenditures -$18.40M -$14.20M
Free Cash Flow $102.3M $58.60M
YoY Change 74.57% -31.94%

Facts In Submission

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OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-332739 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
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CY2015Q2 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
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-6074371 USD
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-1966065 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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-4457629 USD
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-1664045 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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-4173113 USD
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-928618 USD
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-2221095 USD
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-1057977 USD
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-1901258 USD
CY2014Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
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0 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
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0 USD
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OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
-36229 USD
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-1867920 USD
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-2653194 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
-6345985 USD
CY2015Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
-2986559 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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-3564244 USD
CY2014Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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OtherNonoperatingIncomeExpense
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OtherNonoperatingIncomeExpense
1660650 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
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PaymentsForRepurchaseOfCommonStock
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us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
40808322 USD
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us-gaap Payments To Acquire Productive Assets
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30248002 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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49441302 USD
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us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
35005 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
4 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
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373390992 USD
CY2015Q2 us-gaap Property Plant And Equipment Net
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375320843 USD
CY2014Q2 us-gaap Research And Development Expense
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20234074 USD
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40723301 USD
CY2015Q2 us-gaap Research And Development Expense
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us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
43902795 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1046567738 USD
CY2014Q2 us-gaap Sales Revenue Goods Net
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338436964 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
674176308 USD
CY2015Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
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us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
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CY2014Q2 us-gaap Selling General And Administrative Expense
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14222716 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
27854750 USD
CY2015Q2 us-gaap Selling General And Administrative Expense
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
ShareBasedCompensation
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CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0224
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0229
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0212
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.3892
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.3964
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.3596
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
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CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0162
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0168
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0163
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0150
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
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CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.25
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
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us-gaap Share Based Goods And Nonemployee Services Transaction Capitalized Cost
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SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y3D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y362D
CY2015Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y109D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P4Y109D
us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
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CY2015Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
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us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
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CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2014Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3117810 shares
CY2015Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3503844 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3528533 shares
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
294461499 shares

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